From today's SEC Digest:
ALAN SCHLUSSEL CONSENTS TO THE ENTRY OF AN ADMINISTRATIVE CEASE AND DESIST ORDER FOR ACCEPTING BRIBES FROM PUBLIC RELATIONS FIRM CORPORATE RELATIONS GROUP, INC.
On December 17, the Commission instituted and settled administrative and cease and desist proceedings, pursuant to Section 8A of the Securities Act of 1933 (Securities Act) and Sections 15(b)(6), 19(h) and 21C of the Securities Exchange Act of 1934 (Exchange Act), against Alan B. Schlussel for willfully violating, and committing or causing violations of, Sections 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
The Commission found that Schlussel, who was a registered representative during the relevant time, recommended and/or sold shares of common stock of The Tracker Corporation of America (Tracker) to his customers and failed to disclose the material information that he had been or would be compensated by Corporate Relations Group, Inc., a public relations firm located in Winter Park, Florida, which was promoting Tracker at the time, for inducing his clients to buy this stock.
Without admitting or denying the Commission's findings, Schlussel consented to the entry of an order which requires him: to cease and desist from committing or causing any violation, and any future violations, of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; to pay disgorgement and prejudgment interest in the total amount of $36,220.39, and a civil money penalty in the amount of $24,664; and which bars him from association with any broker or dealer with the right to reapply for association after four years to the appropriate self-regulatory organization, or if there is none, to the Commission. (Rels. 33-7785; 34-42243; File No. 3-10118)
JOHN KIM CONSENTS TO THE ENTRY OF AN ADMINISTRATIVE CEASE AND DESIST ORDER FOR ACCEPTING BRIBES FROM PUBLIC RELATIONS FIRM CORPORATE RELATIONS GROUP, INC.
On December 17, the Commission instituted and settled administrative and cease and desist proceedings, pursuant to Section 8A of the Securities Act of 1933 (Securities Act) and Sections 15(b)(6), 19(h) and 21C of the Securities Exchange Act of 1934 (Exchange Act), against John H. Kim for willfully violating, and committing or causing violations of, Sections 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
The Commission found that Kim, who was a registered representative during the relevant time, recommended and/or sold shares of common stock of The Tracker Corporation of America (Tracker) to his customers and failed to disclose the material information that he had been or would be compensated by Corporate Relations Group, Inc., a public relations firm located in Winter Park, Florida, which was promoting Tracker at the time, for inducing his clients to buy this stock.
Without admitting or denying the Commission's findings, Kim consented to the entry of an order which requires him: to cease and desist from committing or causing any violation, and any future violations, of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; to pay disgorgement and prejudgment interest in the total amount of $7,259.44; and which bars him from association with any broker or dealer with the right to reapply for association after three years to the appropriate self-regulatory organization, or if there is none, to the Commission. Based upon a demonstrated inability to pay, the Commission waived the imposition of a civil money penalty. (Rel. 33-7786; 34-42244; File No. 3-10119)
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